Hong Kong-based shipping company Wah Kwong is set to double its fleet of liquefied natural gas (LNG) carriers. The announcement comes as the company eyes the burgeoning demand for LNG, with plans to finalize the deal later this month.
According to Wah Kwong’s Executive Chairman Hing Chao, the decision aligns with the company’s optimistic outlook on LNG as a global energy source. With disruptions in Russian supply routes, Chao anticipates increased demand for LNG carriers, especially with potential supply sources from the U.S. and the Middle East.
The vessels, scheduled for delivery from 2027 onwards, are designed to burn both conventional fuel oil and LNG. This dual-fuel capability not only reduces oil consumption but also lowers greenhouse gas emissions, positioning Wah Kwong favorably amidst the ongoing energy transition.
Chao emphasized the company’s readiness to adapt to future energy trends, citing the potential utilization of alternative fuels such as ammonia and hydrogen. He noted the similarity in gas characteristics, indicating Wah Kwong’s preparedness for future shifts in the energy landscape.
In addition to LNG, Wah Kwong is exploring the adoption of marine biofuel blends for bunker trials. While the company has yet to place orders for methanol-fueled ships due to limited low-carbon methanol supply, Chao highlighted China’s potential to emerge as a key manufacturer of green fuels, potentially reshaping bunkering dynamics.
Highlighting the company’s commitment to sustainability, Chao revealed Wah Kwong’s exploration of various technical measures onboard ships, including shaft generators, energy-efficient generators, and carbon capture technologies.
With seven oil tankers and 28 bulk carriers under its portfolio, Wah Kwong is poised to expand its presence in the maritime sector, leveraging its expertise to navigate the evolving energy landscape and meet the growing demands of global trade.
Source:Reuters
